Senate (HSGAC) Report on Wall Street and the Financial Crisis

Report of United States Senate Permanent Subcommittee on Investigations related to financial crisis of 2007-2009 entitled Wall Street and the Financial Crisis: Anatomy of a Financial Collapse. Specifically prepared by Committee on Homeland Security and Governmental Affairs aka HSGAC) led by Carl Levin (Chairman, Democrat) and Tom Coburn (Ranking Minority Member, Republican) and hence is also known as the Levin-Coburn report.

Report released on April 13 2011. In contrast to the Financial Crisis Inquiry Commission this report, rather than seeking to give an overview of the crisis and it causes, instead provides in-depth investigation into 4 areas:

• Washington Mutual (WaMu) and its subprime lending
• Office of Thrift Supervision
• Ratings agencies (Moody's and Standard and Poor's)
• Investment banks: Goldman Sachs and Deutsche Bank

Possessed of wide-ranging investigative powers, is able to provide detailed, documented evidence of failure and abuse. The section on Goldman Sachs (more than 150 pages) and the rating agencies are especially revealing.

License

Presuming public domain as produced by US Federal entity (United States Senate).